The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
From the TPDC web page
https://tpdc.co.tz/gasco/
Gas Supply Company Limited (GASCO)
It is a TPDC Subsidiary company responsible for operations and maintenance of the National Natural Gas Infrastructure (NNGI) and construction of natural gas distribution infrastructures. The NNGI was commissioned in 2015.
The NNGI facilities consist of two natural gas processing plants located at Madimba and Songo Songo in Mtwara and Lindi regions and natural gas pipelines from Madimba, Mtwara and Songo Songo, Lindi to Dar es Salaam. The Madimba gas processing plant consists of three (3) trains, each with a capacity of 70 mmscfd, which gives a total capacity of 210 mmscfd. The plant also includes a raw gas trunk pipeline with 10 km in length and 16 inches diameter to transport raw natural gas from the Mnazi Bay gas field to the Madimba gas plant.
The Songo Songo gas processing plant consists of two (2) trains, each with 70 mmscfd capacity, resulting in a total plant capacity of 140 mmscfd. The onshore natural gas pipeline from Madimba – Mtwara to Tegeta – Dar es Salaam has 551 kilometers. The offshore pipeline from Songo Songo processing plant to Somanga Fungu has a diameter of 24 inches with a length of 29 km.
The pipeline diameter from Madimba to Kinyerezi is 36 inches, while from Kinyerezi to Tegeta receiving station is 16 inches. The pipeline capacity from Madimba to Kinyerezi is 784 mmscfd, which can be increased to 1002 mmscfd with compression.
Santos has 30m of options at 0.6p .. so unlike us, he can buy shares risk free and make a killing
https://www.lse.co.uk/rns/AEX/directorpdmr-shareholding-8dkdmwgj33ngf7g.html
3-D data is much better for finding surprises and fault lines that might lay hidden; You have a much better chance of hitting the sweet spots to get the best possible production.
Once complete they will essentially have a 3d model of the area and will hopefully mitigate as much of the risk as possible when it comes to drilling.
Aminex are not paying him so not in his interest to mention it :)
To be honest I don't care, he is just a glorified 'influencer' . I would rather see an organic progressive rise instead of boom and bust.
The Dangote thermal power station that is powered by gas is only 22km from the existing NT-2 well https://en.wikipedia.org/wiki/Dangote_Industries_Tanzania_Thermal_Power_Station
Could be a potential customer to take gas directly from well head but believe they already have a contract with TPDC to have gas supplied from them.
https://ibb.co/mJxdQft
If we base the net resource to Aminex which is approximately 500bcf . Once in production I would imagine £200m - £300m.
Cant speculate too much as we dont know gas sales terms which then will enable a more accurate valuation to be placed on the asset. We also need to see how good CH-1 flows.
It will start to look rather cheap soon though!
RNS Number : 3517U
Aminex PLC
01 August 2022
1 August 2022
Aminex plc
("Aminex" or "the Company")
Ruvuma Operations Update
Aminex is pleased to announce that operational activities on the Ruvuma PSC continue to progress under the direction of the operator, ARA Petroleum Tanzania Limited ("APT"):
-- APT has recently received the first batch of field seismic data and expects to have processed and interpreted sufficient data to confirm the final drilling location of the Chikumbi-1 ("CH-1") well before the end of August. Field acquisition continues in order to complete the 338km2 3D seismic programme.
-- APT continues to advance the planning and preparation of the final programme for the CH-1 well and reports that the target spud date for the CH-1 well remains on schedule.
Aminex, with a 25% non-operated interest, is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex) and the carry is expected to see the Company through to the commencement of commercial gas production from the Ntorya gas-field, currently scheduled for the end of 2024, at zero cost to the Company.
Charles Santos, Executive Chairman of Aminex commented :
"We are approaching exciting times for Aminex. The seismic acquisition programme is close to producing results over the core area of the Ntorya gas-field with the delineation of the final location for the CH-1 well. We are pleased that the target spud date for the well remains on track for November 2022. Moreover, the 3D seismic data will refine and hopefully confirm the exploitable gas resources of the Ntorya gas-field in which APT's revised mapping and internal management estimates currently suggest a risked prospective gas in place ("GIIP") of 3,024 Bcf (gross basis, mean case) within multiple reservoir sand lobes and a prospective risked recoverable gas resource of 1,990 Bcf (gross basis, mean case)."
For further information:
Aminex PLC +44 203 355 9909
Charles Santos, Executive Chairman